Asset and Liability Management (ALM) has been catapulted into the headlines with high-profile failures such as at Silicon Valley Bank (SVB). The bank failed due to banking book losses as interest rates rose rapidly—brought on by a lack of hedging and crystallized with quick deposit withdrawals.
As a result, strong Interest Rate Risk in the Banking Book (IRRBB) management has been shown as critical for a bank’s franchise. This has been a period of significant market change and the choice of ALM & IRRBB system is critical to effectively understand, measure, and manage risk. Now, more than ever, banks need best-practice Treasury risk management to support their shareholder value.
SS&C Algorithmics is proud to be at the forefront of this area with the recent win of 2023 winner of “ALM solution of the year” at the Asia Risk Awards in Singapore. The judges cited the breadth of the solution’s capabilities and client testimonials as key reasons for the selection.
SS&C Algorithmics provides powerful user-friendly interfaces and best-in-class calculations, on top of high performance to support vital decision-making at a time of market turbulence. Our solution gives financial institutions the power to report timely ALM information clearly and accurately. With flexible modifications and updates, SS&C Algorithmics can adapt to rapidly changing environments.
Banks are increasingly looking to Cloud for their target operating model. ALM can have significant calculation demands, with banks being mandated to project millions of products in the balance sheet over both time and risk scenarios. Algorithmics support for Cloud tech via remote repositories, containerized images, Kubernetes and PostgreSQL is recognized as a key advantage to help support such needs.
This award adds to recent wins in 2022 from Risk Technology for “Bank ALM system of year,” “Vendor for systems support & implementation” and “Risk dashboard software.”